Americans have cut back substantially since 2008 on the opinions they share by word-of-mouth (WOM) about companies and their offerings, a study by Colloquy finds. Of 3,295 U.S. consumers surveyed, 58% said they often have conversations with family, friends and coworkers about products and services they’ve used—a decrease from 73% when Colloquy posed the same question in a 2008, a 20% drop-off. Other finding include:
• 57% of respondents say they often recommend products and services to others, compared to 75% in 2008.
• Of respondents who report their households are doing better economically this year than last, 71% say they often have conversations with others about the products and services they use.
• Among those who see themselves as worse off, 56% have brand conversations and 55% say they make product recommendations.
• 74% of respondents who see their own financial outlook brightening say they have conversations about products and services, versus 55% for those who see their financial outlook worsening.